LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Select The Blank

Question

Expected gain to a player, if he and & his opponent use their best strategy is called ________of game.

Correct Answer

Value

Your Answer

Value

Select The Blank

Question

Decision Making under Un-certainty is called as ________.

Correct Answer

Uncertain Situations

Your Answer

Uncertain Situations

Multiple Choice Single Answer

Question

If Pij represent element in each column, than minimax value of game is :-

Correct Answer

Min (max pij)

Your Answer

Min (max pij)

Select The Blank

Question

Cash flows & determining Optimal investment proposal is ________.

Correct Answer

Investment Theory

Your Answer

Investment Theory

Multiple Choice Single Answer

Question

Graphical method is restricted to :-

Correct Answer

Two Variables

Your Answer

Two Variables

Multiple Choice Multiple Answer

Question

Combination of strategies of players determines :-

Correct Answer

Outcomes , Payoff

Your Answer

Outcomes , Payoff

Multiple Choice Single Answer

Question

In a pure strategy game if there are two maximin values, then the no optimal strategies for players and is :-

Correct Answer

Two

Your Answer

No optimal strategy

Multiple Choice Multiple Answer

Question

Game can have :-

Correct Answer

Mixed strategies , Pure strategies

Your Answer

Mixed strategies , Pure strategies

Multiple Choice Multiple Answer

Question

In solution of an assignment problem a row with zero costs is added and all the elements are multiplied by - 1, then the problem is of nature :-

Correct Answer

Unbalance assignment. , Maximization.

Your Answer

Unbalance assignment. , Maximization.

True/False

Question

Value of the subgame related to highest point in the feasible region is solution for 2xn game.

Correct Answer

True

Your Answer

True

Multiple Choice Single Answer

Question

Graphical method deals with problem of :-

Correct Answer

Both Maximization & Minimization

Your Answer

Both Maximization & Minimization

Multiple Choice Single Answer

Question

A systematic procedure to obtain an initial feasible solution allocating units to the cells of the transportation table beginning in the upper left hand corner is :-

Correct Answer

North West Corner Method

Your Answer

North West Corner Method

True/False

Question

Variable used to convert a greater than equal to constraint into equality by subtracting it from left hand side of the constraint is Surplus Variable.

Correct Answer

True

Your Answer

True

Select The Blank

Question

Equation of constraints & ________ sets up Simplex method.

Correct Answer

Objective Function

Your Answer

Objective Function

Select The Blank

Question

Finding out the quantity of components to be used at ________.

Correct Answer

Minimum Cost

Your Answer

Maximum Cost

Multiple Choice Single Answer

Question

Value of a game having saddle point equals :-

Correct Answer

Saddle point

Your Answer

Saddle point

Multiple Choice Single Answer

Question

Systematic procedure to obtain initial feasible solution by allocating as many units as possible to the lowest cost cell in the transportation table is :-

Correct Answer

Least Cost Method

Your Answer

Least Cost Method

True/False

Question

Personal decisions can affect the organisation and organisational decisions can affect the person.

Correct Answer

True

Your Answer

True

True/False

Question

Column with the highest negative index number is called a Key Column.

Correct Answer

True

Your Answer

True

Match The Following

Question

Correct Answer

Your Answer

Transportation Tableau

Data on shipping costs

Data on shipping costs

Transportation Problem

Transportation of goods or services

Transportation of goods or services

Balanced Transportation Problem

Supply points equals total demand

Supply points equals total demand

Un-balanced Transportation Problem

Supply points does not equal demand

Supply points does not equal demand

Multiple Choice Single Answer

Question

Optimal Solution is :-

Correct Answer

That point or points in the feasible region that gives the optimal values of the objective function

Your Answer

That point or points in the feasible region that gives the optimal values of the objective function

Multiple Choice Multiple Answer

Question

Elements of Transportation Model are :-

Correct Answer

Plants , Warehouses , Supply & Demand

Your Answer

Plants , Warehouses , Supply & Demand

Multiple Choice Multiple Answer

Question

Purchase Management involves :-

Correct Answer

Purchase Orders , Vendor Evaluation , Negotiation of Supplier Prices

Your Answer

Purchase Orders , Vendor Evaluation , Negotiation of Supplier Prices

True/False

Question

When number of zeros in final assignment matrix are more than required ones, the problem has alternative optimal solution.

Correct Answer

True

Your Answer

True

Match The Following

Question

Correct Answer

Your Answer

Decision making under uncertainty

Uncertain situations

Uncertain situations

Decision making under certainty

Deterministic models

Deterministic models

Decision making under conflict

Competitive strategies

Competitive strategies

Decision making under risk

Stochastic models

Stochastic models

Select The Blank

Question

Value of pure strategy game to player II is ________.

Correct Answer

Negative Minimax

Your Answer

Negative Minimax

Select The Blank

Question

Dummy source is also termed as ________.

Correct Answer

Destination

Your Answer

Determination

Multiple Choice Single Answer

Question

An extra variable added to obtain an initial feasible solution to a Linear Programming problem is called :-

Correct Answer

Artificial Variable

Your Answer

Slack Variable

Multiple Choice Single Answer

Question

Graphical method can deal with :-

Correct Answer

Any number of constraints

Your Answer

Two constraints

Multiple Choice Multiple Answer

Question

Procedural steps in VAM are :-

Correct Answer

Calculation of difference bet 2 element , Selection of row or column , Allocation of number of units

Your Answer

Calculation of difference bet 2 element , Selection of row or column , Allocation of number of units

Multiple Choice Multiple Answer

Question

Objects too can form queues as :-

Correct Answer

Semi-finished job await next operation , Broken down to be repaired , Blunt tools awaiting to be reground

Your Answer

Semi-finished job await next operation , Broken down to be repaired , Blunt tools awaiting to be reground

True/False

Question

The graphical method is simple to understand & easy to use

Correct Answer

True

Your Answer

True

True/False

Question

Minimax vale of the game sets upper limit to the value of the game.

Correct Answer

True

Your Answer

True

Select The Blank

Question

Definition of Dummy source is ________.

Correct Answer

Extra row or column in tableau, with zero cost in each of its cells, used to balance an unbalanced problem

Your Answer

Extra row or column in tableau, with zero cost in each of its cells, used to balance an unbalanced problem

True/False

Question

If a mixed strategy game is bigger than 2x2 size, dominance rule is used to reduce the game.

Correct Answer

True

Your Answer

True

Select The Blank

Question

________ is the last step of Graphical Method of LP.

Correct Answer

Calculate the total profit / loss

Your Answer

Calculate the total profit / loss

Multiple Choice Multiple Answer

Question

Rules concerning Constraints are :-

Correct Answer

Less than or equal to are reduced to equations by adding slack variable , Greater than or equal to are converted to equation by adding slack variable , Equal to are augmented by adding artificial variable

Your Answer

Less than or equal to are reduced to equations by adding slack variable , Equal to are augmented by adding artificial variable , Non-negativity restrictions

Select The Blank

Question

To solve a maximization problem, all elements in the matrix are subtracted from ________ element in the matrix.

Correct Answer

Largest

Your Answer

Largest

Multiple Choice Multiple Answer

Question

Shadow prices help to identify high cost resources which need :-

Correct Answer

Management attention for minimizing waste , Developing cost saving methods , Searching for substitute materials to reduce costs

Your Answer

Management attention for minimizing waste , Developing cost saving methods , Searching for substitute materials to reduce costs

Multiple Choice Single Answer

Question

Which criteria is used to classify the managerial decisions into four categories as mechanistic decisions, analytical decisions, judgmental decisions and adaptive decisions?

Correct Answer

Complexity of problem and degree of certainty about the outcome

Your Answer

Complexity of problem and degree of certainty about the outcome

Select The Blank

Question

The ________ represents consequences of the interactions of the decision alternatives and the chance events.

Correct Answer

Outcomes

Your Answer

Outcomes

Multiple Choice Single Answer

Question

Which of the decision theory model indicates the situations where consequences of each act of decision maker are influenced by acts of opponent?

Correct Answer

Competitive strategies

Your Answer

Competitive strategies

True/False

Question

When there is alternative optimal solution to an assignment problem, total cost of each alternative is different.

Correct Answer

False

Your Answer

False

True/False

Question

A redundant constraint is necessary for the solution to the problem & therefore can be omitted at the time of formulation of the problem.

Correct Answer

False

Your Answer

True

Multiple Choice Multiple Answer

Question

MRP II is associated with :-

Correct Answer

Men , Machine , Material

Your Answer

Men , Machine

Multiple Choice Multiple Answer

Question

Saddle points equals to :-

Correct Answer

Assigning task to facility , Maximin

Your Answer

Assigning task to facility , Maximin , Weighted average and possible outcome

Multiple Choice Multiple Answer

Question

Nomenclatures related to Transportation Problem are :-

Correct Answer

S , P , W

Your Answer

S , W , M

## No comments:

## Post a Comment